Graduation Year
2023
Date of Submission
4-2023
Document Type
Campus Only Senior Thesis
Degree Name
Bachelor of Arts
Department
Philosophy, Politics, and Economics (PPE)
Reader 1
Paul Hurley
Terms of Use & License Information
Rights Information
2023 William A Spangler
Abstract
This thesis examines the obscure and convoluted economics of the data industry, which has proven to be a major force in shaping the world economy and public discourse. This paper argues that the most prevalent failure of the current system is the lack of account for the economic value generated by consumer data. Chapter 1 presents a model of the data economy that helps conceptualise the micro and macro workings of the market, and Chapter 2 addresses the moral concerns surrounding the data economy. The paper proposes a new theoretical dynamic for the data economy in a world where all transactions are recorded on the blockchain in Chapter 3, allowing consumers to engage in the data market and enhancing the market forces that drive the industry. By leveraging blockchain technology, this solution presents an economy in which both firms and consumers have better control and trust in the data that is being supplied and traded, addressing both the moral and economic flaws in the current system.
Recommended Citation
Spangler, William, "The Data Chain: Exploring a New Dynamic for Consumer Data Control and Economic Value" (2023). CMC Senior Theses. 3284.
https://scholarship.claremont.edu/cmc_theses/3284
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.
